UBS Picks Clearstream for Fund Distribution Support LeapRate

November 28, 2024 BY Sam Boughedda

UBS Picks Clearstream for Fund Distribution Support

It was explained in the Clearstream press release that through Clearstream’s Fund Centre platform, UBS aims to streamline processes, reduce costs linked to trailer fee collection, and optimise contract management. The move reflects the European fund distribution platform's growing reputation in the market, as its Fund Centre platform continues to expand Assets under Distribution (AuD)…

November 27, 2024 BY Sam Boughedda

Moomoo Financial Hit With $750,000 Fine by FINRA

The violations, which spanned several years, are said to have highlighted lapses in advertising practices, supervision, and privacy compliance. According to FINRA’s findings, retail trading platform Moomoo Financial paid social media influencers to promote its services but failed to ensure these promotions were "fair and balanced." FINRA said some influencer posts made misleading claims about…

November 27, 2024 BY Sam Boughedda

Standard Chartered Explores Sale of Some Wealth & Retail Banking Businesses in Africa.

The move is designed to free up capital for increased investment in its affluent franchise, a key growth driver for the bank. The bank announced it is exploring the potential sale of its WRB businesses in Botswana, Uganda, and Zambia. The strategic decision aligns with its broader goal of accelerating income growth and returns, as outlined…

November 27, 2024 BY Sam Boughedda

Netcapital Gets FINRA Approval for Broker-Dealer License

The company said the licence approval is set to bolster its capacity to facilitate larger capital raises and broaden its investment offerings. The newly gained licence enables NSI to specialise in private placements of securities and referral business. It is designed to assist companies raising equity capital under Regulation A (Reg A) and Regulation D…

November 26, 2024 BY Sam Boughedda

Macquarie Bank Fined £13m for Serious Control Failures

The regulator said that between June 2020 and February 2022, Travis Klein, a trader at the bank, was able to record and conceal these fraudulent trades to mask his mounting losses. Despite previous warnings about weaknesses in its systems, Macquarie Bank failed to implement effective measures to prevent such misconduct, according to the FCA. “Despite…

Broadridge’s Fi360 and ProctorU partner to launch remote proctoring and identity management solution

November 26, 2024 BY Sam Boughedda

Broadridge's LTX and TransFICC Partner to Streamline Fixed Income Trading

The company said in its press release that the collaboration aims to simplify and accelerate the onboarding process for sell-side clients, reducing operational risks and costs. They explain that by integrating LTX with TransFICC's One API for eTrading platform, dealers are able to swiftly and efficiently connect to LTX's innovative RFQ+ trading protocol, with the…

November 26, 2024 BY Sam Boughedda

Citi, Morgan Stanley, State Street and UBS Invest in Fintech Firm Capitolis

This latest funding round, led by Citi and including increased participation from State Street, will fuel Capitolis' continued expansion across both its Capital Marketplace and Portfolio Optimisation divisions. The company, which says it aims to create “safer and more dynamic capital markets,” added that each bank will invest $5 million and will join the company's…

November 25, 2024 BY Sam Boughedda

Hong Kong's ZA Bank to Offer Crypto Trading Services for Retail Users

The move allows users to trade top cryptocurrencies like Bitcoin and Ethereum in HKD and USD directly within the ZA Bank app. The bank's decision to offer crypto trading services comes in response to the surging global demand for cryptocurrencies. They noted that with over 560 million users worldwide and a market capitalisation exceeding $3…

November 25, 2024 BY Sam Boughedda

Barclays Fined £40m by the FCA

The FCA announced the decision and said it follows Barclays’ withdrawal of its referral of the case to the Upper Tribunal. “The action was based on findings which included that Barclays' conduct in its October 2008 capital raising was reckless and lacked integrity,” stated the FCA. The regulator explained that it first issued warning notices…

November 22, 2024 BY Sam Boughedda

Wedbush Supports 24-Hour US Equity Trading For Correspondent Clients

The financial services firm said in a press release that the new capability, which complements its existing 24-hour futures trading, provides increased flexibility and access to US markets for investors. By enabling 24-hour equity trading, Wedbush said it “empowers investors” to capitalise on market movements during off-peak hours, particularly benefiting investors in Asia and other…

Category: Financial Services